Cabinet Reshuffle Insufficient to Address Nigeria’s Economic Woes—CNPP

By Modupe Gbadeyanka

President Bola Tinubu has been told that mere making a few changes to his cabinet has not solved the current economic woes bedevilling the country.

This was the submission of the Conference of Nigeria Political Parties (CNPP) in a statement signed by its Deputy National Publicity Secretary, Mr James Ezema.

The group, in the statement, warned Nigerians not to expect significant improvements from the cabinet reshuffle, which saw the exit of five ministers and inclusion of seven persons, with the creation of a new ministry, the Ministry of Livestock Development.

CNPP noted that citizens would continue to face worsening poverty and hunger unless the government reverses the petrol subsidy removal and the negative effects associated with the devaluation of the Naira.

“The recent cabinet reshuffle has generated varied reactions, but we urge Nigerians not to harbor excessive expectations from these changes.

“Until there is a reversal of the petrol subsidy removal and the negative effects associated with the devaluation of the Naira, the ordinary citizens will continue to face worsening impoverishment and hunger,” it stated.

The organisation argued that the removal of the petrol subsidy, although desirable, was implemented too hastily without a workable plan to address the drastic reduction in purchasing power.

“Past administrations had made provisions to cushion the negative impacts of increases in the pump prices of petroleum products, but the current government had no concrete plans for about a year and five months now,” it submitted.

“The high cost of diesel continues to negatively impact the pump price of petrol, as tankers use diesel to transport petrol across the country, leading to increased landing costs per litre,” a part of the statement disclosed.

Additionally, the CNPP highlighted the challenges faced by Small and Medium Scale Enterprises (SMEs) due to high fuel costs and electricity tariffs.

“The promised Renewed Hope Agenda of the President may end up as renewed hopelessness if the current administration does not immediately reverse the cost of petrol to its 2015 pump price and the exchange rate to before May 29, 2015.

“More companies are folding up, and SMEs are nearly non-existent as they cannot afford the cost of fuel to power their businesses due to the high cost of diesel and petrol, and the high electricity tariff is not helping them either,” the group said.

The CNPP emphasized the need for immediate action to reverse the high cost of transportation in the country, which contributes to rising food prices.

“The government must take immediate steps to reverse the high cost of transportation in the country to arrest the increasing cost of food and basic necessities of life,” it urged.

The umbrella body of all registered political parties and political associations in Nigeria said it remains committed to advocating for policies that will alleviate the suffering of the Nigerian people and ensure a prosperous future for all.

“We will continue to advocate for policies that will alleviate the suffering of the Nigerian people and ensure a prosperous future for all,” the CNPP concluded.